FX.co ★ Hang Seng Down Slightly at Finish

The Hang Seng Index fell by 34 points, or 0.13%, settling at 26,485 on Thursday. This downturn marked a shift from the previous session's rally and followed a muted morning trading session. Sentiment was unsettled as Wall Street saw a pullback from record highs on Wednesday, ahead of the U.S. release of the Personal Consumption Expenditures (PCE) Index, the Federal Reserve's favored inflation measure. Traders also exercised caution in anticipation of China's National Day and Mid-Autumn Festival holidays scheduled for the following week. The benchmark index was pressured by declines in the property and financial sectors, aligning with weaknesses in mainland stocks despite the central bank's implementation of a 600-billion CNY one-year Medium-Term Lending Facility (MLF) operation to sustain liquidity. However, the decline was somewhat mitigated by indications of Hong Kong's recovery following Super Typhoon Ragasa. Notable decliners included Lenovo Group, down 4.0%, Want Want China, down 3.3%, China Hongqiao Group, down 3.1%, and Zhaojin Mining, down 2.5%. Conversely, electric vehicle manufacturer BYD saw a 1.7% increase in its Hong Kong share price after posting robust European sales, outpacing U.S. competitor Tesla for the second month in a row.